LEXINGTON, Ky. (WTVQ) – Some University of Kentucky students will be paying more for tuition starting this fall.
The university announced Friday that its Board of Regents approved the 2019-2020 budget.
Under the new budget, in-state graduate students will pay 2.4 percent more for tuition or $12,360 per year.
Tuition for out-of-state students will increase by 6.2 percent.
They will pay $30,680 per year.
The budget also includes a 2 percent merit raise for faculty and staff.
The university says it will also invest $146 million in financial aid.
According to the university, in the fall 2018, nearly 90 percent of Kentucky undergraduates received financial aid or scholarships.
Also included in the budget: $2 million for new diversity faculty hires, an additional $1 million for campus modernization efforts ($10 million total) and another $500,000 for renewal of utility infrastructure ($1.5 million total).